KonaTel closes $5M secured credit facility with ACP Financing; up to $25M available

KonaTel, Inc.

Non-dilutive facility with no warrants or convertibility; $1.5M funded at closing for equipment.
Up to $25 million available to support IM Telecom (Infiniti Mobile) subscriber growth.
Repayment structured over initial nine months; tailored for Lifeline/ACP providers.
CEO cites lower equipment cost versus existing sources; improves cash management.
Facility from ACP Financing VII LLC, a specialty lender to Lifeline/ACP providers.

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